BRE Properties Opens O.C. Office

BRE Properties Inc., which is trying to expand its holdings of rental properties significantly in Orange and Los Angeles counties, said Thursday that it has opened a new office in Newport Beach.

The San Francisco company said it is trying to acquire buildings that can benefit from renovation as well as sites that can be redeveloped into rentals. BRE, which owns 5,243 multifamily units throughout Southern California, is building Pinnacle MacArthur Place in Santa Ana, a 253-unit development.